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Coeur Enters Into Letter of Intent to Sell Non-Core Assets for up to US$67 Million in Total Consideration

Thu, 09 May 2013 18:50:17 +0000

Coeur d’Alene, Idaho – April 11, 2013 – Coeur d’Alene Mines Corporation (the “Company” or “Coeur”) (NYSE: CDE, TSX: CDM) today announced that it has entered into a letter of intent with XDM Royalty Corp. (“XDM”) to sell its interest in … Read More →

Kinross Announces Investment in Revolution Resources

Wed, 08 May 2013 19:37:50 +0000

TORONTO, ONTARIO–(Marketwired – April 5, 2013) - Kinross Gold Corporation (TSX:K)(NYSE:KGC) (“Kinross”) announced today that it has subscribed for 3,571,428 units of Revolution Resources Corp. (“Revolution”) pursuant to a non-brokered private placement. Each unit is comprised of one common share and … Read More →

Midas Gold Enters Into US$15 Million Transaction With Franco-Nevada

Wed, 08 May 2013 19:14:05 +0000

VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 7, 2013) - Midas Gold Corp. (TSX:MAX) (“Midas Gold”) today announced that it and its subsidiaries (the “Midas Group”) have entered into a US$15.0 million transaction with Franco-Nevada Corporation (TSX:FNV)(“Franco-Nevada”) and one of its subsidiaries whereby the Midas … Read More →

Colorado Resources Signs Option and Joint Venture Agreement With Gold Fields to Conduct Up to $20 Million in Exploration on Its Oro Property, Yukon

Wed, 08 May 2013 18:45:33 +0000

WEST KELOWNA, BRITISH COLUMBIA–(Marketwired – May 7, 2013) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) (“Colorado” or the “Company”) is pleased to announce it has entered into an option and joint venture agreement (the “Agreement”) with a wholly owned subsidiary of Gold Fields … Read More →

Barrick to Suspend Construction on Chilean Side of Pascua-Lama

Thu, 11 Apr 2013 17:04:42 +0000

TORONTO, ONTARIO–(Marketwired – April 10, 2013) - Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (Barrick or the “company”) today announced that the company is suspending construction work on the Chilean side of the Pascua-Lama project while working to address environmental and other regulatory requirements … Read More →

Prosperity Goldfields Mobilizes Nunavut Drill Program

Tue, 02 Apr 2013 17:09:21 +0000

The primary objectives of this program are: - Drilling at the Rusty Zone to expand and further define known gold mineralization; - Testing an undrilled area directly up-ice of till samples showing anomalous number of pristine gold grains at the … Read More →

North American Nickel Inc.: First Stage of Metallurgical Test Work Confirms Pentlandite Within the Sulphide Mineralization at Maniitsoq

Thu, 21 Mar 2013 17:24:59 +0000

John Pattison, North American Nickel’s Chief Geologist states: “Stage one, the field stitch (FS) imagery, covers only small sections of core, but the results are very encouraging as we can now confirm medium and coarse-grained pentlandite in two of the … Read More →

Romarco Announces Withdrawal of Preliminary Prospectus

Wed, 20 Mar 2013 18:08:38 +0000

ROMARCO MINERALS INC. (TSX:R) (“Romarco” or the “Company”) announces that, in light of current market conditions, it has determined not to proceed with its previously announced public offering of common shares at this time and is withdrawing its preliminary short form … Read More →

Silver Wheaton reports over 1 billion ounces of attributable silver equivalent reserves

Wed, 20 Mar 2013 17:01:28 +0000

VANCOUVER, March 19, 2013 /CNW/ – Silver Wheaton Corp. (“Silver Wheaton” or the “Company”) (TSX:SLW) (NYSE:SLW) is pleased to announce that attributable proven and probable reserves increased by over 38% in 20121 to a record total of 1,116.1 million silver equivalent ounces2, … Read More →

First Majestic Elects not to Exercise Right to Match Coeur’s Offer for Orko

Tue, 19 Mar 2013 17:05:26 +0000

… Keith Neumeyer, President & CEO stated: “It is our view that by increasing the offer beyond our previous bid, the economics of the La Preciosa project drop below our minimum requirements for a rate of return and financial payback to … Read More →

The Next PetroCurrency?

Sat, 16 Mar 2013 10:13:10 +0000

Click on the image below to listen to a replay of the March 15, 2013 call with Don Coxe (available for 30 days): Key Points Because of its enormous energy resources, the US is going to have a more sustained …

Big Ben’s Big Boost to Big Business

Sat, 16 Mar 2013 09:58:42 +0000

Click on the image below to listen to a replay of the March 8, 2013 call with Don Coxe (available for 30 days): Key Points If we continue to create jobs at the same pace of the last 12 months …

If, At First, You Don’t Succeed…

Sat, 19 Jan 2013 10:21:15 +0000

Click on the image below to listen to a replay of the January 18, 2013 call with Don Coxe (33 minutes, available for 30 days): Call Summary: Don is calling for the end of the triple waterfall crash in Japan …

Basel Greenlights Banks Bigtime

Sat, 19 Jan 2013 09:21:25 +0000

Click on the image below to listen to a replay of the January 11, 2013 call with Don Coxe (30 minutes, available for 30 days): Call Summary: It looks like the new Basel rules are going to work. So far …

On the Financial Nature of Things: Kyle Bass

Sat, 05 Jan 2013 21:03:40 +0000

Kyle Bass made a fortune purchasing credit default swaps on subprime securities during the mortgage crisis. He is the founder and principal of Hayman Capital Management and back in October 2012 he gave an interesting keynote speech at the AmerCatalyst …

Marc Johnson Interview: Mines & Money London 2012

Sun, 16 Dec 2012 01:39:35 +0000

No denying it’s a great sounding story: Orbite has a proprietary process to produce alumina and a variety of high value by-products from … [various] feedstocks and we do this at the lowest cost in the industry and we produce …

Mike Devji Interview: Mines & Money London 2012

Sun, 16 Dec 2012 01:19:06 +0000

Interview opens with: Orko is a very exciting silver company … The PEA and feasibility study process is expected to take 2 years before even making a production decision. Doesn’t sound particularly exciting given the $200+ million valuation and that’s …

John Carlesso Interview: Mines & Money London 2012

Sun, 16 Dec 2012 01:00:03 +0000

Why is it taking so long to negotiate surface rights at Oremex Silver’s Tejaman project (part of Cervello Capital group of companies)? This interview really doesn’t offer any clarity, only a long and rambling response from Mr. Carlesso. click to …

Guy Goulet Interview: Mines & Money London 2012

Sun, 16 Dec 2012 00:38:35 +0000

Targeting commercial production in early 2014 at ~1 million ounces silver per year at a cash cost of $14/oz (assuming diesel power). click to view

Alex Black Interview: Mines & Money London 2012

Sun, 16 Dec 2012 00:22:40 +0000

click to view

Setting Sail with Shale

Sat, 16 Mar 2013 05:10:19 +0000

No additional commentary necessary. Go ahead and read the full article for more PIMCO insights.

Sounds about right

Fri, 08 Mar 2013 18:32:35 +0000

There was a lack of enthusiasm from most of the companies we visited at PDAC and a lot of pessimism lurking beneath the surface. It seemed every speaker agreed things were cheap but they were all very skeptical about what could … Read More →

Another Headwind for Mining Equities

Fri, 08 Mar 2013 15:49:49 +0000

We heard a number of times at the PDAC 2013 convention that there’s no money in Canada buying mining stocks (just plenty of selling). That leaves companies looking across the border for investors. Unfortunately the prospect of a weakening Canadian … Read More →

What’s it gonna RMB?

Mon, 22 Oct 2012 19:53:24 +0000

I’ve made a point of highlighting Patrick Chovanec, one of my favorite commentators on China, and here again he provides us with a straightforward look at the Renminbi.

Slowing, slowing

Tue, 02 Oct 2012 07:43:55 +0000

Here we have Sober Look living up to its name. Unfortunately I cannot locate the referenced BNP Paribas piece.

Expat Exodus

Wed, 26 Sep 2012 00:55:55 +0000

Although none of Mark’s anecdotes, criticisms and foreshadowing will be new to those following the China bears, it’s still an altogether engaging farewell lament that went viral for good reason. Sober Look points out that an expat exodus is a leading indicator of … Read More →

A Must Read

Tue, 07 Aug 2012 01:18:22 +0000

In his keynote speech presented to the Melbourne Mining Club, Nick Holland, CEO of Gold Fields Limited, provides us with plenty of honest insights and a wealth of data points on the gold mining industry. We couldn’t agree more with … Read More →

A Dark Knight

Thu, 02 Aug 2012 06:34:43 +0000

Here’s a list of the 140 stocks under review: http://www.foxbusiness.com/investing/2012/08/01/nyse-probes-unusual-trading-in-140-stocks/ Notice the heavy weighting towards resource stocks, with Almaden Minerals, Rare Element Resources, Molycorp and Great Basin Gold having been hit the hardest within this group: Careful with those … Read More →

Bigger than Lebed

Thu, 05 Jul 2012 13:33:08 +0000

Some morally bankrupt brothers, $1.2 million worth of suckers and shameless companies that paid $1.8 million for a ride. What else is new? Real robots make people smile: God help us when they tire of soccer and get greedy. … Read More →

Bad News for Lithium and Graphite Demand

Tue, 26 Jun 2012 19:03:24 +0000

On page 13 of the report A Lithium Shortage: Are Electric Vehicles Under Threat? we’re shown a comparison on the amount of lithium required for hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV) and pure electric vehicles (EV). We learn that you … Read More →

Another NSR

Thu, 09 May 2013 19:10:40 +0000

XDM Royalty is a private Canadian company with about 81 million shares outstanding and $10 million cash on hand as of December 2012. Using the price of the most recent $0.25 private placement (November 2012) would value the company at … Read More →

Nothing better to do apparently

Wed, 08 May 2013 19:47:44 +0000

You’d think a $6.4 billion gold miner ($11 billion in January, correlation?) would have better things to do than make $250k investments in junior exploration companies.

An endorsement, but not a strong one

Wed, 08 May 2013 19:33:44 +0000

Midas Gold had working capital of about $15 million at December 31, 2012. During 2012 they were burning through about $5 million per month. Combined with the fact that shares are down from $3.50 to about $0.80 in the past … Read More →

No Time Wasted

Wed, 08 May 2013 19:00:56 +0000

It’s hard to put a value on this joint-venture agreement given the time frame and inherent optionality, but it’s a mighty impressive deal for a company that was trading below the value of its cash just two weeks ago before … Read More →

What does this mean for Silver Wheaton and Royal Gold?

Thu, 11 Apr 2013 17:39:19 +0000

Royal Gold owns a 5.23% NSR on gold production at Pascua-Lama which is expected to generate about $50 million in annual cash flow over 25 years at the current gold price (based on an average 600,000 oz/yr production profile). Using … Read More →

Gold Targets A-Plenty

Tue, 02 Apr 2013 18:01:43 +0000

Let’s just say right off the bat we are not typically interested in early stage junior exploration where the odds of success tend to be more random than usual — even for the mining world — to the point where … Read More →

Pentlandite Hints at Sudbury Geological Analogy

Thu, 21 Mar 2013 18:57:55 +0000

Initial metallurgical work consisting of field stitch imaging (combining multiple electron microscope scans into a larger image of a section of polished drill core) has revealed that nickel appears to be hosted in the nickel sulfide pentlandite at the Maniitsoq … Read More →

Wishy-Washy, Market No Likey

Wed, 20 Mar 2013 18:23:56 +0000

With $53 million in cash at the end of February according to Romarco’s latest presentation it’s a bit unclear why they were itching to raise more funds ahead of the all-important record of decision on the 404 wetlands permit. The market … Read More →

The surprisingly simple Silver Wheaton share price target table

Wed, 20 Mar 2013 18:02:02 +0000

We took the table in the above press release (see original) and adjusted for the conveniently provided process recovery assumptions to arrive at an estimate of the total recoverable silver and gold attributable to Silver Wheaton. Further assuming it would … Read More →

OK Gone — When Coeur d’Alene Came

Tue, 19 Mar 2013 18:08:35 +0000

Whereas First Majestic could claim synergies such as La Preciosa’s proximity to its La Parilla and Del Toro operations and head office in Durango, winning bidder Coeur d’Alene is spinning it as diversifying the geography of its production base. Coeur is also … Read More →

Shale Oil: A Deep Dive Into Implications for the Global Economy and Commodity Investors

Sat, 16 Mar 2013 05:05:22 +0000

Growth in U.S. shale oil production could have the most significant long-term impact on oil prices of any supply event in recent decades. It has already been the major factor in rebalancing future expectations of supply and demand, thus anchoring … Read More →

Harbingers of a market bottom

Fri, 08 Mar 2013 18:02:33 +0000

A few indications that the gold space and decent juniors are nearing a bottom. 1: Nothing but doom and gloom reported from the PDAC on how dismal the space is right now. 2: Record out flow from precious metal mutual … Read More →

Why Canada’s economy is in trouble

Fri, 08 Mar 2013 15:30:00 +0000

Analysts are beginning to raise concerns about Canada’s near-term economic growth. … A number of somewhat related factors are driving this weakness in Canada’s growth. Here are some of them: 1. Canada’s exports are heavily concentrated in energy with a big focus … Read More →

Boao Review: The Realities of Renminbi Internationalization

Mon, 22 Oct 2012 19:38:18 +0000

Up until very recently, China has been running surpluses on both the current and capital accounts. The result is that, far from Renminbi accumulating abroad, China has accumulated a massive stockpile of $3 trillion in foreign currency reserves. Foreign buyers … Read More →

Deflating the emerging markets bubble

Tue, 02 Oct 2012 07:22:02 +0000

Monetary easing in the US had a direct impact on monetary policy in emerging markets. It works by weakening the US dollar which puts upward pressure on EMEs’ currencies. These nations’ central banks try to maintain a peg (implicit or … Read More →

You’ll never be Chinese

Wed, 26 Sep 2012 00:29:12 +0000

[There] is one overriding reason I must leave China. I want to give my children a decent education. The domestic Chinese lower education system does not educate. It is a test centre. … [producing] winners and losers. Winners go on … Read More →

What Do Investors Want From a Gold Mining Stock?

Tue, 07 Aug 2012 00:59:59 +0000

At investor conferences the industry often extolls its cash cost performance — that we are making significant operating cash flow margins – sometimes in excess of $1,000 an ounce. Who are we trying to kid? We don’t kid the investors … Read More →

Error by Knight Capital rips through stock market

Thu, 02 Aug 2012 06:06:09 +0000

A technology breakdown at a major trading firm roiled the prices of 140 stocks listed on the New York Stock Exchange on Wednesday, undermining fragile investor confidence in the stability of U.S. stock markets. … The exact nature of the … Read More →

SEC’s “stock picking robot” targets deny wrongdoing

Thu, 05 Jul 2012 13:06:46 +0000

The brothers, for their part, claim that they did nothing wrong. In a sparse answer filed on Wednesday, June 27, they say the SEC has not shown any material misstatement or omission on their part. Although the answer is 10 … Read More →

Electric Cars: Ready for prime time?

Tue, 26 Jun 2012 18:22:30 +0000

Our analysis finds that: Electric passenger cars currently cost €4k to €5k more to their owners than an equivalent fossil fuel car over the vehicle’s lifetime… … but because of greater travel distances, an electric delivery van costs €4k less … Read More →

Two Ripe Pairs

Wed, 16 Jan 2013 09:22:07 +0000

Following our success with “pairs trading” in 2011, we initiated two more during the latter half of 2012 and both have proven to be quite profitable over a relatively short 4-6 month period. First there was our comparative analysis of Timmins … Read More →

End of Year Sales Event via Libra Advisors?

Wed, 19 Dec 2012 22:10:45 +0000

On November 16, 2012 WSJ ran a story about Libra Advisors returning outside investor money by the end of the year as it scales down from hedge fund to “family office”: a private entity that manages a wealthy family’s investments … Read More →

This is Hard Assets: Thoughts from San Francisco

Thu, 29 Nov 2012 09:12:49 +0000

This November 16-17th we attended the Hard Assets investment conference in San Francisco. We hope you can understand that our juiciest investment ideas can only be found in the full, premium “Best in Show” version of this post. Nevertheless there’s … Read More →

Our #1 Rare Earth Stock Pick for 2013

Thu, 29 Nov 2012 04:34:13 +0000

Geomega Resources (TSX: GMA) – Strong Contender in the Rare Earths Race We created the following infographic to illustrate why we believe that Geomega Resources (TSX-V: GMA; Pink Sheets: GOMRF) owns one of the most prospective rare earth and strategic metals development projects … Read More →

Social Media and Mining – Pairs Trading Inefficient Markets

Wed, 12 Sep 2012 22:04:01 +0000

You don’t always need a particular direction in the market for a good investment opportunity. Sometimes trades can work whether the market is up or down simply because misinformation or mistakes have caused an asset to be mispriced. Over the … Read More →

Silver Sector Shrinking Claims Sean Rakhimov of Silver Strategies

Fri, 31 Aug 2012 19:01:58 +0000

A wave of resource nationalism is reducing the number of silver miners available for investment to the public according to Sean Rakhimov of Silver Strategies. Much of the expropriation (threatened or actual) has taken place in Latin America where a large … Read More →

Interactive World Risk Map for Mineral Exploration, Development & Mining

Thu, 26 Jul 2012 22:18:52 +0000

In our continuing effort to research and analyze mining data, we have been busy this summer building up our modeling methodologies using the data visual method. In addition to analyzing mining companies and projects, data visualization can be helpful in … Read More →

Timmins Gold vs Argonaut Gold

Wed, 04 Jul 2012 22:52:54 +0000

A subscriber recently prompted us to look more closely at Timmins Gold and its valuation relative to other gold producers. When performing comparative analysis, ideally you want to look at peers that are as similar as possible in order to … Read More →

New York Hard Assets 2012 — Recap on Companies Visited

Tue, 22 May 2012 19:39:18 +0000

We went through our notes and thoughts on many of the company we visited at the NY Hard Assets Show last week and recorded some of the most pertinent sections for posterity. We tried to separate the discussion by company … Read More →

PDAC 2012 Days 3 & 4

Thu, 15 Mar 2012 09:54:19 +0000

We decided to take our time to report on the last two days of our PDAC booth patrolling in order to save our sanity and health on account of way too much yakking, handshaking and BS’ing that took place during … Read More →

Colombia Gold Letter: January 2013

Wed, 09 Jan 2013 11:39:41 +0000

Red Eagle Mining’s (TSX-V: RD) CEO, Ian Slater, was given permission to share the the normally paywall protected January 2013 edition of Paul Harris’ Colombia Gold Letter monthly subscription publication. Click the image below to access the January 2013 edition

Junior Mine 2012: Must Survive Before You Can Thrive

Fri, 04 Jan 2013 21:22:12 +0000

PwC provides us with plenty of interesting data points including an aggregate income statement, balance sheet and cash flow statement for the Top 100 mining companies by market capitalization listed on the TSX Venture exchange as of June 30, 2012. … Read More →

GMO Quarterly Letter November 2012: On the Road to Zero Growth

Sat, 01 Dec 2012 22:30:01 +0000

click to access report

Fluorspar: Essential for Modern Life

Tue, 27 Nov 2012 10:03:59 +0000

Click to access infographic

The Gold Series

Tue, 27 Nov 2012 09:36:38 +0000

Despite some of Visual Capitalist’s “Facts” being in serious need of more careful checking (e.g. amount of gold in the ocean), this 5 part series serves as an excellent and entertaining introduction to the gold market. Click to access 5-part … Read More →

Why Gold?

Wed, 14 Nov 2012 11:15:49 +0000

The periodic table lists 118 different chemical elements. And yet, for thousands of years, humans have really, really liked one of them in particular: gold. Gold has been used as money for millennia, and its price has been going through … Read More →

Nevada: The Next American Gold Rush

Tue, 02 Oct 2012 01:42:21 +0000

Graphite: The Driving Force Behind Green Technology

Wed, 20 Jun 2012 22:53:06 +0000

All the World’s Gold

Fri, 27 Jan 2012 19:06:25 +0000

From: Number Sleuth

China’s Investment Boom: on the Edge

Wed, 18 Jan 2012 02:01:58 +0000

PGVF 2011 China Investment Boom_on the Edge